The conclusions of the European Council also stressed the need for more efforts to complete the European Research Area by 2014.
Progress achieved on some key areas of EU action on research and innovation, a vital component of Europe's future competitiveness and growth are set out in Memo/11/153
In the margins of the Council the participating member states (except UK and Czech Republic) signed the Treaty on stability, coordination and governance in the EMU.
The EU's priorities for the forthcoming G20 meeting and UN Rio+20 Conference were also set, with a particular emphasis on growth-enhancing measures and reforms.
Candidate status was also granted to Serbia, the first step to EU membership.